A number of leading blockchain projects, including heavyweights EOS and Tron, have decided to use the relatively new delegated Proof of Stake (dPoS) consensus mechanism to secure their blockchains.
In this guide, you will learn what delegated Proof of Stake is and find a list of the top seven most promising dPoS coins.
What Is dPOS?
The delegated Proof of Stake (dPoS) consensus mechanism was invented by Dan Larimer and first deployed on the BitShares blockchain in 2016.
Delegated Proof of Stake is a rework of the popular Proof of Stake (PoS) algorithm, but instead of each network participant staking coins, so-called “producers” are chosen to secure the network by ensuring that transactions are being processed accordingly. The network delegates this power to the producers, hence the name delegated Proof of Stake.
Unlike in proof of work blockchain networks, no mining takes place. Hence, it is considered a much more environmentally-friendly means of securing a digital currency network.
Best Delegated Proof of Stake (dPoS) Coins
To compile our list of the best delegated Proof of Stake coins, we have used criteria such as market capitalization, dPOS APR, and YTD price performance.
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